No truth to the rumor that Harry Markopolos was the one that forwarded this the the SEC.
I sure hope it doesn't take 9 years and $1 Trillion in profits later for them to look into this serious matter.
I doubt this will go anywhere as the sinister plan of lifting equities artificially has worked.
But then again none I mean zero people from the media has reported this story as of yet to my knowledge. Why would they? They are all giving high fives for DOW 9K.
The people in the know understand that low latency program trading/HFT is the only reason the markets have rallied over the last few months. Sprinkle in some bogus economic reports about the state of housing and employment, as well as positive talk from analysts/money managers, and this is what you get.
www.gata.org/node/7616
I will have more on HFT very soon.
Please see my post from a few weeks ago.
tradersutra.blogspot.com/2009/07/volume-vs-liquidity.html
Finally.
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